Author(s)

Junqi Liu ¹, Zili Chen ², Xuejun Wang ², Zhuangying Fang ², Heng Lyu ^2,3

Affiliation(s)

¹ China Soft International Technology Service (Hunan) Co., Ltd, Changsha, Hunan, China
² Guangzhou Huali College, Guangdong, Guangzhou, China
³ King Mongkut's University of Technology Thonbur, Bang Mod, Thung Khru, Bangkok, 10140, Thailand

Corresponding Author

Heng Lyu

ABSTRACT

The information age is dawning, as science and technology advance at a rapid rate, ushering us into a new epoch. The Internet's leadership of new media has not only enhanced people's quality of life, but also broadened the pathways for people to acquire, spread, exchange, and process information, thus making our lives more convenient and productive. The swift advancement of science and technology has made artificial intelligence an indispensable element of our current society. It not only affects our daily life, but also profoundly affects our creativity and social development. The steam engine revolution has been followed by artificial intelligence, a scientific revolution that will surely spur future progress. Consequently, the utilization of this potent instrument to foster China's economic expansion is of immense and far-reaching importance to be examined. Beginning with the definition of artificial intelligence, this paper delves into the fundamental ideas of artificial intelligence and its associated theoretical foundation. Subsequently, a thorough examination of the primary applications of artificial intelligence and its essential part is conducted. Thirdly, by reviewing the three industrial revolutions in history, it summarizes that each industrial revolution will bring about different degrees of industrial structure adjustment, which will lead to changes in labor demand and eventually lead to changes in employment. It is proposed that, in light of the current state of China's economy, we should make full utilization of artificial intelligence technology to foster the sustained, healthy, and rapid growth of the country.

KEYWORDS

Artificial intelligence, industrial structure, Policy Economy, technological innovation

CITE THIS PAPER

Junqi Liu, Zili Chen, Xuejun Wang, Zhuangying Fang, Heng Lyu, Research Progress on the Impact of Artificial Intelligence on China's Economy. Financial Engineering and Risk Management (2023) Vol. 6: 56-65. DOI: http://dx.doi.org/10.23977/ferm.2023.060109.

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